USD/JPY Sets New Multi-Decade High, Bulls In Control

As shown on the XAU/USD chart today, the price of gold is: → above the psychological level of $2,500 per ounce; → near a key resistance marked by a red line labelled Support 2. This line has been preventing further price growth several times since 20 August, when the all-time high was reached. If the […]

Gold struggles to surpass 2,037 and 200-period SMA RSI and MACD move horizontally Short-term outlook looks neutral-to-bullish Gold prices are flirting with the 2,037 resistance level and the 200-period simple moving average (SMA) in the 4-hour chart, creating an ascending triangle. Technically, the RSI is moving horizontally above the 50 level, while the MACD is […]

Summary The July CPI report is likely to further the case that inflation is quieting down even if it has not yet returned all the way back to the Fed’s target. We look for headline CPI to have advanced 0.2% in July, which would keep the year-over-year rate steady at more than a three-year low […]